Henry Blodget Braces For ‘Harder Times’: Silicon Alley Insider ‘Screwed’?
Why is ’screwed’ Henry Blodget’s favorite headline at his Kevin Ryan co-production, “Silicon Alley Insider” (SAI)? Perhaps it is because he made his (bad) mark by screwing investors, just ask the SEC!
Recent not-so-elegant Blodget prognostications:
“Newspapers Are Screwed”
“Cable Screwed”
“Hulu Is Screwed”
NEWS FLASH: Henry, unwittingly, just screwed himself, and coconspirator Ryan: “US Economy Screwed,” the SAI weekend dispatch declares, piggybacking (in typical NOT SO INSIDER Blodget fashion) off of original reporting done by the New York Times.
The Blodget SAI value add? ”Digital business executives” will be facing a screwing themselves. So much for the big plans of the digital advertising supported Blodget-Ryan SAI, then!:
We expect advertising spending to start slowing (or even dropping) within a couple of months. We think all the major Internet and media companies will get hit. We expect the downturn will dampen VC and angel financings, which, in turn, will dampen entrepreneurial activity. So we continue to suggest that digital business executives brace for harder times.
Blodget is apparently aware that his signature headline grabbing (phony) stock boosting from his first Internet go around will not sell during his latest attempt to rehabilitate himself, so he is trying another extreme: How about giddy short selling “analysis,” ad nauseum.
Insider Chatter is NOT fooled. SEE: Henry Blodget Slams eBay’s Whitman: Yahoo’s Yang Next? and Blodget & Ryan: Cool, or Suck? WHAT Silicon Alley ‘Insider’! and Henry Blodget Has Internet Boom Lessons For NBC
The New York Times is on the Blodget hypocrisy case as well. Harry Hurt “trashed” “That Henry Blodget”’s book, “Most, if not all, of the promotional value is based on his career in white-collar deception”:
He is legally prohibited from offering investment advice to specific individuals, and yet he markets advice to mass audiences about the very industry that barred him for life.
During his three years at Merrill, he earned upwards of $18 million in salary. The fine he paid was $4 million. That leaves him a whopping $14 million ahead of the game, not counting taxes and the legal fees attendant to his settlement agreement. As luck and some high-priced lawyers would have it, Mr. Blodget wound up negotiating a settlement in which he neither admitted nor denied any wrongdoing.
The current Blodget “white collar deception” spurs an Internet downturn:
After blowing the last downturn, we’ve been on the right side of this one since last summer.
Really, Blodget and Ryan? Odd then, that you bankrolled the launch of SAI, an online, advertising supported digital media business, last summer!
Up or down, Blodget continues to be bad for Internet investors.